Dame Dash At Risk Of Losing Roc-A-Fella Shares

BYCole Blake4.7K Views
Link Copied to Clipboard!
GQ Magazine Celebrates BVLGARI's New Ergon Watch with "The Men Who Embody New York Spirit and Style"
Damon Dash during GQ Magazine Celebrates BVLGARI's New Ergon Watch with "The Men Who Embody New York Spirit and Style" at Table 50 in New York City, New York, United States. (Photo by Johnny Nunez/WireImage)
Dame Dash may have to auction off his shares of Roc-A-Fella.

Dame Dash’s shares in Roc-A-Fella are reportedly at risk of hitting auction, according to court documents obtained by AllHipHop. Dash helped launch the label alongside JAY-Z and Kareem “Biggs” Burke back in 1995. The situation revolves around a lawsuit regarding Dash’s dismissal as a co-director on the movie Dear Frank.

After being ousted from the project for allegedly being high on the set, Dash promoted himself to a producer on the project and changed its title to The List. An ensuing lawsuit resulted in a jury ruling against Dash and directed him to pay $805,000 in damages to filmmaker Josh Webber and Muddy Water Pictures. In order to complete the deal, Webber’s lawyer, Christopher Brown, wants Dash’s one-third interest in Roc-A-Fella to be sold at a live, in-person public auction.

Dame Dash Parties With JAY-Z

Damon Dash and Jay-Z during Damon Dash's Birthday Party - May 4, 2004 at La Bodega in N.Y.C. New York, United States. (Photo by Johnny Nunez/WireImage)

JAY-Z’s attorney, Alex Spiro, has since jumped into the dispute. He argues that Dash can’t do so due to the company’s by-laws forbidding any such transfer or sale. “Neither [ Brown or Webber] nor Dash have obtained (or even sought) permission to auction Dash’s 1/3rd interest in [Roc-A-Fella Records]. As a result, any purported transfer of Dash’s 1/3rd interest in [Roc-A-Fella Records] at the public auction [Brown and Webber] seek would be ‘void and ineffectual’ and would ‘not operate’ to transfer Dash’s interest. And the [Roc-A-Fella ] board is entitled to decide whether to approve any transfer of Dash’s interest,” Shapiro explained, as noted by AllHipHop. The judge has yet to issue a final ruling.

JAY-Z and Roc-A-Fella Records previously sued Dash for allegedly attempting to sell his shares of the label as a Reasonable Doubt NFT. The lawsuit concluded with both parties agreeing that no individual shareholder could mint an NFT of the album. Be on the lookout for further updates on the latest legal dilemma for Dame Dash and Roc-A-Fella on HotNewHipHop.


About The Author
Cole Blake is currently an Editor at HotNewHipHop based out of Brooklyn, New York. He began working at the site as an intern back in 2018 while studying journalism at St. John’s University. In the time since, he’s graduated with a bachelor's degree and written extensively about a wide range of topics including pop culture, film & television, politics, video games, sports, and much more. He’s also covered music festivals such as Gov. Ball and Rolling Loud. You can find him publishing work for HNHH from Monday to Wednesday or on weekends. On the sports front, Cole’s a passionate NBA and NFL fan with his favorite teams being the Indianapolis Colts and Los Angeles Lakers. He also roots for the Yankees whenever he finds himself at Yankee Stadium or the Red Storm when in the company of other SJU alumni. His favorite hip-hop artists are billy woods, Earl Sweatshirt, Cam’ron, MIKE, and Mach-Hommy.